April 27, 2010

Energy Companies' New Strategy

Hubbert peak graph showing the world's oil pro...
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Oxford Analytica, 04.27.10, 06:00 AM EDT

China's oil companies move to increase collaboration overseas and within China.

When China became a net importer of oil in 1993, its national oil companies embarked on a massive program of investment in overseas oil resources. As the country now imports gas as well, these companies also invest in international gas projects. By early 2010, after 18 years of investment, Chinese NOCs have a stake in more than 200 projects in about 50 countries. The total value of these projects is estimated to exceed $50 billion.
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